OMAHA, Neb. (AP) — Union Pacific will release its third-quarter earnings report Thursday morning, and let investors know just how much its profits were hurt by weak coal demand and last month's flooding in Colorado.
The Omaha-based railroad already warned that its earnings per share would fall between $2.45 and $2.48 and fall short of Wall Street expectations.
Union Pacific said total volume was relatively flat in the quarter.
And the lost revenue and repairs from the Colorado flooding will cost the railroad about $10 million.
Analysts adjusted their forecast downward after UP's warning, so they now predict earnings per share of $2.48 on $5.61 billion revenue on average.
Last year, Union Pacific reported $1 billion in net income, or $2.19 per share, on revenue of $5.34 billion.